Credit Cards Online Information

Let's face it. Not everyone is a history buff. That's obvious to those who've ever watched an episode of "The Tonight Show with Jay Leno." As he skirts around the streets of Los Angeles during his signature bit "Jay Walking," he gets the most laughable responses to the simplest questions. When asked during one bit when Christopher Columbus discovered North America, a lady studying to be a teacher responded, "1842."

It's a scary thought that a future educator doesn't know when "Columbus sailed the ocean blue." Maybe more people would know their history if it had a more direct impact on their lives. Then again, that statement doesn't always ring true because there are many people who don't have a clue about personal history that affects them greatly--their credit history.

Just as a resume displays your work experience to a potential employer, a credit report provides creditors, and in some cases employers and insurers, with a detailed picture of your credit history. And like a resume, your credit report can influence whether you'll get what you're applying for.

Good credit isn't only useful in getting a loan. Credit checks are often done before a person is able to sign an apartment lease or as part of a background check before being offered a job, said Luther Branham, senior vice president of consumer lending for USAA Federal Savings Bank.

Your credit report provides a snapshot of your credit history and helps lenders make a quick, objective and accurate assessment of your credit risk. Occasionally, however, there are errors on these reports that can adversely affect your ability to get a loan or credit. Therefore, it stands to reason that you want to make sure your report is an accurate, up-to-date reflection of your credit history. Here are five reasons why you should become a history buff when it comes to regularly reviewing your credit report.

Identity theft

In 2003, 9.9 million people became victims of identity theft. A Federal Trade Commission publication titled, "ID Theft: When Bad Things Happen to Your Good Name," points out that identity thieves use a variety of methods--low- and high-tech--to gain access to personal data like social security numbers and credit card account information.

# posted by Medical Information : 1:59 AM